New Research: Learning about Financial Well-Being in Canada
The Canadian Payroll Association has partnered with the Western-Laurier Financial Data Analytics Laboratory (The Western-Laurier Lab) to analyze 11-years of National Payroll Week survey data uncovering new insights that have been published in a paper entitled Learning about Financial Well-Being in Canada.
The research found that, more than age or income, it’s actually the ability of working Canadians to deal with brief financial setbacks— like missing a paycheque — and their savings habits that most affect financial stress.
Financial stress costs the Canadian economy nearly $16 billion in lost productivity each year. Payroll professionals have the strategic knowledge and technical expertise to help working Canadians struggling with finances.
Download the full paper here.